The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says there is no cartel operating in the downstream oil sector, insisting that its pricing framework is transparent and regularly published.
Speaking at the Energy Correspondents Association of Nigeria (ECAN) maiden conference in Abuja, NMDPRA Secretary and Legal Adviser, Dr Joseph Tolorunse, said engagements with the Federal Competition and Consumer Protection Commission (FCCPC) confirm that no group controls the market.
He stressed that the authority will not allow any monopoly or dominant player to dictate prices, adding that the Petroleum Industry Act (PIA) empowers NMDPRA to intervene when necessary.
Tolorunse explained that Nigeria still relies on imports because local refineries cannot meet national petrol demand, noting that the law permits import licences for credible traders.
“We must complement local supply to avoid shortages. The PIA gives us the power to allow imports and ensure fair competition,” he said.
He emphasised that NMDPRA’s pricing template is cost-reflective and publicly available.
“The pricing framework is published on our website. Claims of opacity are not based on facts,” he noted.
The agency also reaffirmed its responsibility to guarantee feedstock for refineries, protect consumers, and maintain adequate fuel supply.
Also speaking, NUPRC’s Head of Regulatory Compliance, Kingston Chikwendu, said the PIA has transformed the industry by strengthening stakeholder engagement, speeding up regulatory approvals, and enabling major investment decisions.
Industry expert Henry Adigun attributed slow pipeline investment to insecurity and rising preference for barging, though he noted growth in gas pipeline development, especially with the ongoing AKK project.
